Jeffs responsibilities at Alterra include managing all aspects of legal, finance, risk-management and operational matters for the company, as well as collaborating with his Partners on the firms investment decisions. Alterra Property Group | LinkedIn alterra property group stock Chief Financial OfficerThomas Baker, CPATom Baker joined Alterra Property Group in May of 2017. Taks, Marijke and Ragoen, Jona. In addition, he is responsible for raising and structuring equity and debt for Alterras ongoing business initiatives. Moving to the Mountain: Aspens Dominance in Public Transportation. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. Today, Alterra is one of the largest institutional owners of IOS properties in the U.S. We are very excited at Alterra to have completed the fundraising for Venture II, our first discretionary Fund. SAN FRANCISCO Autonomous truck software developer Embark Trucks, Inc. has announced a partnership with Alterra Property Group, a real estate investment company focused on industrial outdoor storage properties, to identify and launch transfer point sites across the U.S. Sunbelt. We understand that we have a responsibility. The company is comprised of a highly qualified team of professionals that handle all aspects of acquisition, entitlement, project/construction management, asset management, leasing, property management, accounting, and investor reporting. Prior to joining Alterra, Mark worked several years in the Philadelphia Business Unit of Turner Construction Company, the largest construction management company in the world by volume, gaining unparalleled construction management expertise. ABOUT ALTERRA PROPERTY GROUP Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. Our dedicated staff of industry experts strive to provide the highest level of management services for residential, retail and commercial properties. Jeff resides in Pennsylvania with his wife and two children, and when not working or spending time with his family, enjoys golf, spending time at the shore and being a Philadelphia sports fan (most of the time). Through 2011 and 2012, Intrawest and Fortress navigated its way out of the difficult economic period with less debt to position the business for long-term, sustained success. PROJECTS BY EMORY UNIVERSITY HISTORY STUDENTS. Co-owner and developer, bringing Canada's first Ace Hotel to the city. Use the form below to reset your password. Wesley Edens, Chairman of Fortress, commented on the great opportunity to continue Intrawests evolution into a leading global leisure player. Intrawests challenges on the public market highlight the business risks of ski industry companies, including exposure to unpredictable weather conditions, capital intensive equipment requirements, and consumer spending. ControllerLacee Daniel, CPALacee joined Alterra in September 2018 as a senior accountant working directly with Alterras investment partners. Intrawests Continued Struggles Attracted New Interest. Mark focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. Lacee holds a Masters in Accounting from the University of Maryland-College Park and an undergraduate degree in accounting from the College of Charleston. Altera Corp. (NASD: ALTR) presently has an above average rank, in [] Altera reports its third-quarter earnings on Thursday, October 23, 2014, and the consensus earnings per share estimate is 37 cents per share.The consensus estimate remains unchanged over the past month, but it has decreased from three months ago when it was 39 cents. MarketScreener: Created by Investors for Investors! We're not asking for your money. Six months later, it secured a $100M credit facility with Morgan Stanley for the same purpose. Necessity is the mother of invention," Addimando said. Prior to joining Alterra, Matt focused on acquisitions on the East Coast for CenterSquare, a real estate private equity firm located in Philadelphia. Formerly at Fischer & Company, he spent his time leading the IOS brokerage team which represented several Fortune 500 companies in achieving their national and global strategic real estate portfolio needs. Carolyn earned her BA in Psychology and Sociology from the University of Michigan and has a Paralegal Certificate. She currently resides in South Philadelphia with her fianc and their dog. Mark is a graduate of Drexel University and holds a BS in Architectural Engineering, Mechanical Concentration, as well as a dual minor in Mechanical Engineering and Construction Management. The company purchased Sandestin Resorts in Florida for $130 million in 1998. Pirate Capital Hedge Fund Boosts Stake in Intrawest. HedgeCo.Net. Later, in 2004, Intrawest reorganized its mountain and warm-weather resorts into a new corporate division called the Leisure and Travel Group. Cochran, Bill. Alterra WebCompany profile page for Alterra Mountain Co including stock price, company news, press releases, executives, board members, and contact information Alterra is vertically integrated and controls the entire value creation process from acquisition to disposition, with expertise in structuring complex transactions and in-house project design, construction oversight, leasing and management. Parker has 12 years of experience in the real estate industry leading strategic business development across several asset classes. It was not for another decade that the firm became interested in the ski industry. From our inception born out of one original tenant relationship, the Alterra IOS team has understood the importance of listening to the occupier industries (transportation and logistics, equipment rental, building materials, etc.) Managing PartnerMatthew Pfeiffer Matt played an integral part in the formation of Alterras Industrial Outdoor Storage platform and oversees the day-to-day acquisitions and asset management initiatives of that platform. He and his Partners are responsible for forming and implementing investment strategies across the company. To increase and diversify revenues, Intrawest looked to rebrand itself as a leisure company instead of a ski resort operator in the late-1990s and early-2000s. Leah is a graduate of Temple University with a Bachelors degree in Communications. His clients include Tesla, Rolls-Royce, Chevron, and ExxonMobil Global Real Estate, among others. She also has a masters degree from the University of Pennsylvania. But Alterra'sacquisition of the sitefor leasing to Maxim led Bardonaro to realize the benefit of focusing more capital expenditure on his company's vehicle fleet. As the controller, Tom is responsible for the management and oversight of the financial reporting and accounting functions of the company, as well as financial deliverables that are due to Alterras investment partners. VP IndustrialMatt McNutt He has 17 years of experience in the real estate industry, including 12 exclusively in the IOS sector. Jim graduated with a BS from Penn State University and a JD from Washington & Lee School of Law. Jensen Hire Means a Sharper Focus on Hotel Ski Business for Intrawest. Travel Weekly. Email. As the analysis proves, private equity played a catalytic role in the development of Alterra and while there were serious setbacks and periods of distress, the overall impact was positive on both the company and industry as a whole. Prior to joining Alterra, Jeff was Vice President of Asset Management at Independence Realty Trust (NYSE: IRT), a role focused on leading strategic organizational initiatives in addition to the asset management of a diverse real estate portfolio. Contact. Creating a business model around that vision broke the mold in the hotel/retail/festival industry. This new strategy transformed how people viewed the ski industry. WebAlterra Wynwood is an assisted living residence that is purposefully designed to meet the needs of the frail elderly in a comfortable, home-like environment. Intrawest found a niche in the Canadian ski market as it was less developed than the U.S. in the 1980s and 90s. in Finance with a concentration in Real Estate from the Pennsylvania State University. Intrawest Resorts Holdings, Inc. to Be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners. Business Wire. Intrawest garnered respect in the industry for its large reinvestments into its resorts. Rory is from Haverford, PA and currently resides in Philadelphia with his wife. The Denver Post. All rights reserved. SVP- IndustrialCharlie Totten Accessed April 16, 2023. https://scholar.uwindsor.ca/humankineticspub/40. Lease Administrator Chelsea Holber This article has been updated. Jeff resides in Pennsylvania with his wife and two children, and when not working or spending time with his family, enjoys golf, spending time at the shore and being a Philadelphia sports fan (most of the time). Accessed April 17, 2023. https://www.hedgeco.net/news/05/2006/pirate-capital-hedge-fund-boosts-stake-in-intrawest.html. Formerly at Fischer & Company, he spent his time working on all facets of strategic portfolio management and planning for numerous Fortune 500 companies through periods of both rapid network expansion and contraction. Houssian negotiated a $3.7 million deal for 50 percent of Blackcomb Skiing Enterprises with an option to purchase the remaining 50 percent in five years for $5.8 million. Most recently,Jonwas a project management Lead at Rivian Automotive, where he supported the development of Rivians $5B East Atlanta campus. In his free time, Jim enjoys spending time with his family, traveling, being outside biking, hiking and skiing, working in his garden and having a nice meal and/or craft beer with friends. Accessed April 18, 2023. https://www.aspentimes.com/news/layoffs-cutbacks-hit-vail-resorts/. This is not a step Currently, in his role at Alterra, Leo oversees management of the firm, provides overall vision and leadership to the company, serves on its Investment Committee, raises capital, overseas residential, mixed-use, and industrial development, and spearheads the firms residential/mixed-use development and investment strategy. Most recently Carolyn worked at Capano Management Company as a Paralegal and Lease Negotiator. Alterra Homes for sale in Chino Hills, Ca. Accessed April 17, 2023. www.pitchbook.com. Parker received a Bachelors of Arts in Accounting and Entrepreneurship from Miami University in Oxford, OH. Company News; Intrawest Acquires Sandestin Resorts For $130 Million. The New York Times, July 15, 1998. Charlie is a 2010 graduate of Georgetown University and he currently resides in Pittsburgh with his wife and son. 7rscampoli@marketcompr.com, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence, Saudi's United Electronics Co shelves plans for Egypt expansion, Alibaba's Jack Ma turns up in Japan as college professor, Japan's Nikkei crosses 29,000 as yen weakens on BOJ's dovish stance. Alterra Property Group Daniel Jarvis, previously CFO of Intrawest, led this new group. Director - IOS ConstructionLiam SullivanLiam works as Senior Development Manager focusing on Mixed Use and Industrial projects. Without the same rent growth up here, that equation is very challenged.. ALTERRA CAPITAL HOLDINGS LTD : Stock Price Jeff began his career as a consultant within Deloitte Consultings Strategy and Operations practice, focusing on organizational growth strategy and opportunities with large, global clients. Alterra is vertically integrated and controls the entire value creation process from acquisition to disposition, with expertise in structuring complex transactions and in-house project design, construction oversight, leasing and management. During his career, Liam has managed development and construction of projects ranging from historically significant adaptive reuse to technical healthcare facilities including a BSL3 to mixed-use developments. He was formerly the head of real estate for an international transportation and logistics company. Holding positions in both Development and Construction, Liam successfully brought to market projects throughout the U.S. and Canada. Mattcurrently resides in La Jolla, CA with his wife, daughter and son. Martin Lipton, the founding partner of Wachtell, Lipton, Rosen, & Katz, a global law firm specializing in mergers and acquisitions and corporate governance, noted in a Harvard Law School publication that no company should consider itself immune from activism. Park Madison Partners acted as the funds exclusive placement agent. As the global economy rebounded in the early-2010s, the ski industry saw tourists return to the slopes and lodges, providing a much-needed lift on revenues. (657) 247-2600 She brings over 15 years of marketing and project management experience in multi-family housing, student living, and furnished corporate accommodations. Over the course of his career, Mark has successfully managed the design and construction of various building product types ranging from highly sophisticated healthcare facilities, historic preservation/adaptive reuse buildings, higher ed/K-12 institutions, office space, and multi-family/mixed used developments with an aggregate volume valued in the billions . By December 2019, Alterra had formed a $300M joint venture backed by JPMorgan Chase to acquire IOS properties. Jeff is a Partner, General Counsel and Co-Founder of Alterra Property Group. For more information, please visit AlterraProperty.com. However, in a 2016 study, Professors Marijke Taks and Jona Ragoen found that ski participation in recessions broadly declines. He led all leasing, asset management and development for both the industrial and office portfolio. But Alterra's multifamily business didn't just tread water. This positive influence will continue as private equitys role in the industry grows. All Rights Reserved. He began his career in real estate at Blackstone (2007-2012). Gains from Investments in Snowmaking Facilities. Ecological Economics 130 (October 2016): 339349. in Finance with a concentration in Real Estate from the Pennsylvania State University. Parker spent his time working on optimizing terminal locations across the country. SVP- Development & ConstructionMark Cartella Since 2005, Alterra has executed hundreds of real estate transactions across 30+ states, including the acquisition of over 100 industrial outdoor storage properties over the past 5+ years. Previous to his career in real estate, Leo was an early employee of Orbitz.com, helping the company to develop ancillary revenue streams, the profitability of which contributed to the companys successful IPO in 2003. FEDERAL CAPITAL PARTNERS, CROSS PROPERTIES In 1986, U.S. billionaire Marvin Davis wanted to sell off 20th Century Foxs skiing assets, specifically Blackcomb Skiing Enterprises, the owner and operator of Blackcomb Mountain in Whistler. Click or Tap Here. Prior to joining Liberty, he served for 11 years as president of the Philadelphia Industrial Development Corporation and before that served as the city of Philadelphias Commerce Director. Focused on low building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material, and equipment storage, Alterra brings an institutional comprehension of the municipal & logistical complexities in securing mission-critical real estate for the often-overlooked sectors of the U.S. industrial landscape. Mr. Hankowsky currently serves on the boards of Citizens Financial Group Inc. (NYSE: CFG), the Greater Philadelphia Chamber of Commerce, Delaware River Waterfront Corporation, Philadelphia Convention and Visitors Bureau, Philadelphia Shipyard Development Corporation, Pennsylvania Academy of Fine Arts. Alterra Property Group Intrawest Resorts Holdings, Inc. Investor Relations. Intrawests stock traded around $33 per share; however, Pirate Capital publicly stated that they valued the stock at $45 per share and pressured management to undergo a strategic review. Lauren earned her bachelors degree from Arcadia University and currently resides in Philadelphia. She brings to Alterra a strong understanding of real estate marketing, sales leadership, and team development. In addition, he is responsible for raising and structuring equity and debt for Alterras ongoing business initiatives. On March 21, 1990, Intrawest filed with the Toronto Stock Exchange to trade under the ticker ITW. Toronto, Ontario M4W 3C7, Phone. Reporters for Travel Weekly noted that this hire demonstrated a pivot for Intrawest from a real estate development company to a ski resort operator. Improvements, facilities and programs are in formative stages. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. info@alterra.com. Creating award-winning On the public side, Tom gained extensive real estate accounting and auditing experience while working for the operations and development teams of a global real estate investment trust and as an assurance auditor for PricewaterhouseCoopers (PwC) in their asset management practice (Funds and Real Estate). She brings over 15 years of marketing and project management experience in multi-family housing, student living, and furnished corporate accommodations. He currently resides in South Philadelphia. See jobs Follow View all 57 She currently resides in South Philadelphia with her fianc and their dog. In addition to helping him assess the viability of growing the multifamily business, Addimando's exposure to so many other marketsgave him perspective on what is possible and sensible in Philadelphia. The firm raised CAD$26 million through the initial public offering (IPO) to use in acquiring more ski assets, such as purchasing Mont Tremblant for $22 million in 1991. November 12, 2013. January 31, 2014. Intrawest Announces Restructuring of Debt. Summit Daily. Associate Transactions & ComplianceLauren Olson Last modified April 28, 2010. Alterra Property Group LLC, of Philadelphia, has reached the final close of its Alterra IOS Venture II LP. Other common Alterra Property Group LLC email patterns are [first] (ex. Alterra focuses on acquiring low density, supply chain and infrastructure real estate in core infill locations. atollpg She also has a masters degree from the University of Pennsylvania. The Song Was Stuck on Repeat for Intrawest. Deputy General CounselJim Freeman, Esq.Jim Freeman serves as Deputy General Counsel of Alterra Property Group, LLC. The IOS market is a $200BN market that is highly fragmented with limited institutional ownership. Clausing, Jeri. 2013. ET:A previous version of this article misstated the nature of its first deal with Maxim, what year Alterra acquired Maxim's portfolio of industrial outdoor storage properties and the total value of its most recent fund. Prior to forming Alterra, Jeff began his career at the Philadelphia-based law firm of Stradley Ronon Stevens & Young, where he honed his skills in commercial real estate and finance. "Yeah, but its five hours that I shouldnt have been spending there to begin with.. Accessed April 17, 2023. https://www.perenews.com/fortress-buys-intrawest-for-2-8bn/. He has 9 years of experience in the real estate industry. Alterra IOS Home - Alterra IOS Chelsea holds her Bachelors of Business Administration in Marketing from the University of Pittsburgh. Gavin focuses on acquisition opportunities and asset management functions at Alterra Property Group. Alterras real estate platform is strategically focused on our two core competencies of residential/mixed-use development ( APG Living ), and industrial outdoor storage ( IOS ). By mid-March, thefund had closed after raising $524M, wellabove its goal of $400M. Mattcurrently resides in La Jolla, CA with his wife, daughter and son. Maximizing Value in the Real Estate Private Equity Space: Expansion, Competition, and Alliance. The Journal of Private Equity, vol. Co-Founder & Managing PartnerLeo Addimando Noting that the staggering amount of capital looking to invest in value-add multifamily has all but erased the possibility of getting a satisfactory return, Alterra has committed to modular development as a way to control and reduce construction costs, betting that when it stabilizes and sells a property, investors won't care how it was built. The constant shifts, setbacks, and advancements over the last 40 years for Alterra demonstrate the greater resiliency of the ski industry. WebAlterra Property Group Real Estate Philadelphia, Pennsylvania 2,929 followers Real Estate Investment, Development, and Management. Alterra Mountain Co - Company Profile and News Jim has over 20 years of experience leading acquisitions, dispositions, and development projects in a variety of asset classes, with a focus on industrial and logistics facilities. Leah is experienced in implementing innovative systems and creative strategies resulting in established brand identity, enhanced customer engagement, and lead generation. Alterra Prior to joining Alterra, Jim served as lead transactional counsel for the East Region at Prologis (PLD) where he oversaw over $1B in acquisitions, dispositions and development projects annually. When they arent working, they enjoy traveling, snow and water sports, and backyard barbecues. Six years later, it hasanational, institutionally backed portfolio of IOS properties, but is still a Philly-focused multifamily developer. Sean focuses on acquisition opportunities and asset management functions at Alterra Property Group. Alterra Developments Official Website Senior Fund AccountantRory OConnorRory joined Alterra in October 2021 as a Senior Fund Accountant working directly with Alterras IOS Fund. Alterra Capital Holdings Ltd : Alterra Capital Reports Fourth Quarter and Year End 2012 Re.. Alterra Capital Holdings Ltd : Alterra Capital Announces $0.16 Dividend, Alterra Capital Holdings Ltd : Markel Reports 2012 Financial Results, Alterra Capital Holdings Ltd : Alterra Capital to Release Fourth Quarter 2012 Earnings. Formerly at Fischer & Company, he spent his time working on all facets of strategic portfolio management and planning for numerous Fortune 500 companies through periods of both rapid network expansion and contraction. Liberty was acquired by Prolog is in February, 2020 for $13B. 2013. jane.doe@alterraproperty.com), which is being used by 60.6% of Alterra Property Group LLC work email addresses. He received a Bachelor of Arts degree in economics from Brown University. Jeff began his career as a consultant within Deloitte Consultings Strategy and Operations practice, focusing on organizational growth strategy and opportunities with large, global clients. After Turner, Mark worked 7 years at one of Philadelphias preeminent professional project management/real estate services company, Aegis Property Group. In a Reuters article, Josef Schuster, a financier focused on IPOs, suggested that the market is getting more sensitive to where IPO proceeds go to, and favors firms where proceeds are earmarked for growth versus reducing leverage or going to selling shareholders. For Intrawest, the IPO proceeds were raised to reduce leverage and provide liquidity to selling shareholders instead of investing in new growth initiatives. Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. Greg Hicks is a Vice President, Facilities & Maintenance at Alterra Property Group based in Philadelphia, Pennsylvania. Thomas Marano, a real estate investor, succeeded Jensen. We are always growing! APG IOS is Alterras industrial real estate platform dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. Intrawest Resort Holdings, Inc. Intrawest Sets Its Sites on Global Leisure and Travel Market; Crosses $1.5 Billion Revenue Milestone. Hotel Online, October 20, 2004. "He quickly responded, put us with some local contacts and we had multiple options within a month.". Charlie focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. Alterra Property Group LLC - Company Profile and News Since its formation in 2006, Park Madison has advised on over $20 billion in private capital placements for a wide range of real estate vehicles including closed-end funds, open-end funds, separate accounts, programmatic joint ventures, and recapitalizations. We need additional data to finish your registration. Commonly, private equity funds have a 10-year life where an investor will hold onto a company for 5-8 years based on strategy for optimizing returns. Kosman, Josh. Modelling the Wider Effects of Ski Lift Investments. Empirical Economics (February 27, 2019): 259274. Tom currently resides in New Jersey with his wife and three children. Alterras real estate platform is strategically focused on our two core competencies ofresidential/mixed-usedevelopment (APG Living), andindustrial outdoor storage (IOS). Whereas private equity firms are mandated to generate returns by buying private companies, hedge funds have a wider scope to trade any publicly listed or privately held security. Alterra has closed over $1.5B of real estate transactions. Mark has a Bachelors degree from the University of Pennsylvania and currently resides outside of Philadelphia with his wife and son. William P. Hankowsky was Chairman, President, and Chief Executive Officer of Liberty Property Trust, until February, 2020. Intrawest Resort Holdings, Inc. Form S-1 2016. Based on Alterra's continued success in fundraising for IOS and executing multifamily projects in Philly, its best return has come from the investments it made in talent. Though Pfeiffer leads the day-to-day of the IOS operation, Addimando himself was forced to evolve how he worked in order to keep both ventures successful. WebAlterra Property Group Real Estate Investment, Development and Management Who We Are Alterra Property Group, LLC (Alterra) is an established real estate investment, More on the banning of snowboarding, on one chair ski lifts, and limited use of artificial snow. Matt is actively involved with Whartons Zell Lurie Real Estate Center and is a member of the board for Georgetowns Steers Center for Global Real Estate.
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